There is absolutely nothing wrong with making bets where the payoff is smaller than the money risked, so long as the bet has positive expected value and the bet

There is absolutely nothing wrong with making bets where the payoff is smaller than the money risked, so long as the bet has positive expected value and the bettor's risk management is sound. It's the idiots who lever up too high or otherwise disregard bankroll management who get ruined when a "sure thing" doesn't go their way.